Greek Entrepreneurs Open Shoe Factory in Brazil

Up to the end of this month, a Greek shoe factory will start operating in the city of São José do Hortêncio, in the southernmost Brazilian state of Rio Grande do Sul.

The new factory will be called Jimmy Chris Indústria de Calçados. The investment is by Greek businessmen and the production will be turned to the Greek market. The information was published by newspaper Jornal NH.

Brazilian shoes exports added up to US$ 910 million in the first semester of the year, against US$ 921.4 million in the same period last year.

There were 94.6 million pairs shipped, which represented a drop in 8% in relation to January to June in 2005, according to information from the Brazilian Association of Shoe Manufacturers (Abicalçados).

The decrease in shoes exports, according to the association, is still due to the appreciation of the Brazilian real in relation to the American dollar.

The main destination of Brazilian shoes was the United States, which imported 37.7 million, representing US$ 424.5 million in revenues in the first semester.

Next is the United Kingdom, with 10.7 million pairs imported, worth US$ 179.3 million. Argentina, Spain and Italy are amongst the five greatest buyers of the product in Brazil.

Anba

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